Post-Pandemic, Attractive Deals In Dubai’s Real Estate Market Attract Buyers From The UK, Italy, Turkey, And France.
European property developers are flocking to Dubai’s thriving real estate market, enticed by the interest shown by investors from the UK, Italy, Turkey, and France. Surpassing South Asian and Gulf investors, these European buyers have been seizing appealing deals in Dubai’s property market since Covid. Among the newcomers are DHG Properties from Switzerland and R.evolution, an esteemed European developer. With off-plan property sales expected to exceed Dh300 billion this year, these companies aim to capitalize on the robust market demand.
Dubai’s real estate market reached a remarkable milestone, achieving a 10-year high with transactions valued at Dh30.41 billion recorded in June 2023. The month witnessed an impressive volume of 10,419 transactions, marking a significant 17.78% increase compared to June 2022’s 8,846 transactions. The first half of 2023 saw sales exceeding Dh170 billion. Fueling expectations of reaching Dh300 billion in total sales for the year.
Investors, particularly from Russia, China, Europe, and other nations, swiftly embraced numerous property projects launched within the past two years, resulting in rapid acquisition. According to Knight Frank, Dubai is highly sought after for its combination of affordability and attractive investment returns. Developers and real estate consultants affirm that local properties offer robust single-digit returns, surpassing the meager yields offered by many other major cities.
R.evolution, renowned for its diverse portfolio encompassing residential, hotel, office, and infrastructure projects in Latvia, Germany, and Spain, has unveiled its inaugural residential development, Eywa. Situated on the scenic Dubai Water Canal in Business Bay, Eywa presents 48 exquisite waterfront residences.
Qasim Mansoor, Chief Development and Operations Officer at R.evolution expressed excitement about the launch of Eywa in Dubai. Catering to the growing demand for homes that offer a comprehensive and immersive living experience. Mansoor stated that the development aims to redefine the concept of exclusivity, providing clients with a unique lifestyle.
Eywa draws inspiration from two iconic landmarks, the sacred Banyan tree and the Southern Sky Column, a renowned quartz sandstone mountain in Zhangjiajie National Forest Park, China. The architectural design of Eywa is remarkably distinctive, setting it apart. With an estimated completion date of 2026, the residences will boast exceptional features. Such as a library, private waterfalls, and hammocks.
Alex Zagrebelny, Chairman and CEO of R.evolution, emphasized their proactive approach in reducing the carbon footprint, minimizing waste, and adopting sustainable practices. By combining ancient wisdom about human nature with modern advancements, their priorities encompass well-being, health, energy efficiency, sustainability, unity with nature, and fostering a sense of community. Zagrebelny firmly believes that Dubai will always strive for excellence and settle for nothing less. DHG Properties, a prominent Swiss developer, has ventured into the UAE market with their inaugural project called Helvetia Residences, situated in Jumeirah Village Circle.
Blagoje Antić, Founder and Director of DHG Properties, expressed tremendous enthusiasm about their entry into the UAE market. Which remains a prime choice for individuals worldwide due to its appealing combination of a fulfilling lifestyle and robust businesses. With a track record of over 30 years in delivering excellence across Europe, DHG Properties aims to extend its commitment to quality through its inaugural development in the region. Antic looks forward to being part of Dubai’s flourishing cityscape. Which has consistently captivated their attention, particularly in recent years.
Antić highlighted the rising popularity of Jumeirah Village Circle (JVC) among UAE residents working in the vicinity, making it an ideal starting point for DHG Properties’ venture in the UAE. With its meticulously crafted residential community, convenient highway connectivity, and attractive affordability, JVC offers a dynamic living experience suitable for individuals of all ages. Recognized as one of Dubai’s emerging areas, JVC showcases a vibrant and promising future.